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06 Dec 2018, Aleen Joy Jarasa, EMIS Editor

PH’s First Gen Corporation signs JDA with Tokyo Gas

First Gen Corporation, through its subsidiary FGEN LNG Corp., is set to work with Japan’s Tokyo Gas Co. Ltd. after signing a joint development agreement (JDA), Philstar has reported. The JDA is said to be a preliminary agreement to start a new liquefied natural gas (LNG) terminal in the country.

The agreement states that Tokyo Gas will have a 20% participating interest in the project and will provide support in development work to reach a final investment decision before entering into an agreement to start the project’s construction. Moreover, First Gen and Tokyo Gas share a common goal of introducing LNG to the Philippines as well as mutual desire to develop a safe and stable renewable energy system, Philstar has noted quoting the companies’ respective presidents.

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